www.marianaresources.com
Mariana Resources Ltd is a Guernsey incorporated investment holding company established to acquire potentially large or high value gold and copper-gold prospects in Chile, Argentina and other selected parts of South America.
The Group's strategy is to seek underexplored areas with potential for high grade polymetallic-gold epithermal/skarn mineralisation. Mariana brings to bear considerable field experience in this regard and early recognition of critical geological features is an important aspect.The Mariana Team brings together over 150 years of combined industry experience, with a specific South American focus.
RNS Release - News
MARIANA RESOURCES LIMITED
AIM & PLUS MARL
TSX: MRY
17 January 2012
Mariana Resources issues employee options and reprices 60p employee options and issues shares following exercise of options.
Mariana Resources Ltd ('Mariana' or 'the Company'), the AIM and TSX quoted exploration and development company in Argentina and Chile, advises that the Board has changed the exercise price of 1,500,000 options expiring 1 February 2015 exercisable at 60 pence per share, to be exercisable at 12 pence per share. The exercise price of the same series of 60p options held by directors has not been altered.
The Company has issued to employees under the Employee Share Option Plan, 784,000 options exercisable at 12 pence per share, 83,000 at 16 pence per share and 83,000 at 20 pence per share, all expiring 31 January 2016.
The Company has also issued to directors of the company, 750,000 options exercisable at 12 pence per share, 750,000 at 16 pence per share and 750,000 at 20 pence per share expiring 31 January 2016, also under the conditions of the Employee Share Option Plan.
As a result the Company has the following options subject to the Employee Share Option Plan outstanding.
| Employees' options | ||||
| Expiry date | Exercise price | Number of options | ||
| 31/01/2012 | 24P | 21,000 | ||
| 31/01/2012 | 28P | 20,000 | ||
| 31/01/2012 | 30P | 19,000 | ||
| 30/10/2012 | 15P | 10,000 | ||
| 30/10/2012 | 20P | 10,000 | ||
| 30/10/2012 | 25P | 10,000 | ||
| 31/10/2012 | 6P | 235,000 | ||
| 31/08/2012 | 10P | 357,000 | ||
| 31/08/2012 | 15P | 377,000 | ||
| 31/08/2012 | 20P | 372,000 | ||
| 30/06/2013 | 6P | 683,000 | ||
| 31/05/2013 | 20P | 300,000 | ||
| 31/01/2014 | 20P | 1,670,000 | ||
| 31/07/2014 | 30P | 2,540,000 | ||
| 1/02/2015 | 12P | 1,320,000 | ||
| 31/01/2016 | 12P | 784,000 | ||
| 31/01/2016 | 16P | 83,000 | ||
| 31/01/2016 | 20P | 83,000 | ||
| Total employees' options | 7,894,000 | |||
| Directors' options | ||||
| Expiry date | Exercise price | Number of options | ||
| 31/05/2012 | 6P | 33,500 | ||
| 30/06/2013 | 6P | 266,000 | ||
| 31/01/2014 | 20P | 1,050,000 | ||
| 31/07/2014 | 30P | 1,500,000 | ||
| 01/2/2015 | 60P | 1,100,000 | ||
| 31/01/2016 | 12P | 750,000 | ||
| 31/01/2016 | 16P | 750,000 | ||
| 31/01/2016 | 20P | 750,000 | ||
| Total directors' options | 6,199,500 | |||
The total number of options held by employees and directors is equivalent to 6.2% of the Company's issued shares.
Members of the Mariana Resources Ltd employee share option plan have exercised 75,000 options over shares in the company. The shares were issued at a price of 6 pence per share.
The exercise prices were set at the time the options were issued.
Mariana Resources Ltd has made an application for the shares' admission to trading on AIM and the shares are expected to be admitted to trading on 25 January 2012. The shares have been approved for trading on TSX.
As a result of the above issue, the capital of the Company is now 228,740,487 ordinary shares.
**ENDS**
NEITHER THE TSX NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE
For further information please visit website at www.marianaresources.com or contact the following.
| In Australia: | ||
| John Horsburgh (Chairman) | Mariana Resources Ltd | +61 2 94374588 |
| Glen Parsons (CFO) | Mariana Resources Ltd | +612 94374588 |
| Rob Adamson | RFC Corporate Finance Limited (Nomad) | +61 2 9250 0041 |
| Will Souter | RFC Corporate Finance Limited (Nomad) | +61 2 9250 0050 |
| In U.K. | ||
| Matthew Robinson | FinnCap (Broker) | +44 20 7600 1658 |
| Jonathan Evans | Fox Davies Capital ( Co UK Broker) | +44 20 3463 5000 |
| Felicity Edwards | St Brides Media and Finance Ltd (PR) | +44 20 7236 1177 |
| Elisabeth Cowell | St Brides Media and Finance Ltd (PR) | +44 20 7236 1177 |
| In Canada: | ||
| Kathryn Witter | Mariana Resources Ltd (Vancouver Office) | +1 604 669 9336 |
| Arash Shahi | Renmark Financial Communications (PR) | +1 514 939 3989 |
| Maurice Dagenais | Renmark Financial Communications (PR) | +1 416 644 2020 |
Mariana Office Location
| Head Office: Level 5, 22 Atchison Street St. Leonards, NSW, 2065 Australia |
| Canadian Address: PO Box 11584 1410 - 650 West Georgia Street Vancouver, BC V6B 4N8 |
About Mariana Resources
Mariana Resources Ltd is an AIM and TSX quoted exploration and development company with an extensive portfolio of gold,
silver and copper projects in Argentina and Chile. In southern Argentina, in addition to the Las Calandrias gold-silver discovery, the Company has the Sierra Blanca silver-gold prospect (100%); the Los Amigos joint venture (49%) with Hochschild
Mining and a 160,000 Ha land package (100%) in the country. All of these projects are located in the Deseado Massif epithermal gold-silver district in mining-friendly Santa Cruz province of southern Argentina, which hosts four mines and several
advanced projects. In Chile, Mariana has a joint venture with US based international mining and natural resources company Cliffs Natural Resources Inc., to explore for iron oxide-copper-gold deposits ('IOCG') in a 92,000 km² area ("SCM Mariana Area")
in north-central Chile along the highly prospective Atacama Fault Zone. The SCM Mariana Area includes the 44km² Buenaventura and 46km² Perro Chico IOCG projects. Mariana is also evaluating a number of gold-silver and copper-gold
opportunities away from the Cliffs JV area.
Safe Harbour
This press release presents "forward-looking statements" within the meaning of Canadian securities legislation that involve inherent risks and uncertainties. Forward-looking statements include, but are not limited to, statements with respect to the future price of gold and other minerals and metals, the estimation of mineral resources, the capital expenditures, costs and timing of the resources, the realization of mineral reserve estimates, the capital expenditures, costs and timing of the development of new deposits, success of exploration activities, permitting time lines, currency exchange rate fluctuations, requirements for additional capital, government regulation of mining operations, environmental risks, unanticipated reclamation expenses, title disputes or claims and limitations on insurance coverage. Generally, these forward-looking statements can be identified by the use of forward looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Mariana to be materially different from those expressed or implied by such forward looking statements, including but not limited to: risks related to international operations, actual results of current exploration activities; actual results of current or future reclamation activities; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; future prices of gold and other minerals and metals; possible variations in ore reserves, grade or recovery rates; failure of equipment or processes to operate as anticipated; accidents, labour disputes and other risks of the mining industry; and delays in obtaining governmental approvals or financing or in the completion of development or construction activities. Although the management of Mariana believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions and have attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Mariana Resources does not undertake to update any forward-looking statements that are incorporated by reference herein, except in accordance with applicable securities laws.
The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the
information contained therein.
Source: Mariana Resources Ltd via Thomson Reuters ONE
